[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[mjp44]

The key to that problem is knowing that the Standard Materials Allowed formula = Actual units of material x standard price per unit. You have to compute the standard price per unit in order to complete the problem. The actual DM units produced = 24,000 (12,000 FG units x 2 DM units). Take the total standard allowance dollar amount of $60,000 and divide by the actual DM units of 24,000 to get $2.5 – the standard price per unit. Once you get that, you're golden. Then just work backwards to find the actual DM units…62,500/2.5 = 25,000

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[scarletknight91]

mjp44, isnt the 24000 the standard quantity allowed, not the actual quantity? the usage quantity variance calculates the dollar difference between the actual used and the std quantity allowed; and the std quantity allowed is 2*12000 finished units. since this is a flexible budget, thats why you'd take the 2:1 ratio and apply it to the actual units sold. we're comparing our budget expectation of how much dm is needed to actually how much dm we actually used to complete x amount of units.

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[How many letters do you need]

Scarlet – I wouldn't confuse standard costing with flexible budgeting, they are two very different things. A standard isn't a budget, it's an expected metric and has very different financial implications than a flexible budget. Just a heads up come exam day…..

MBA,CMA,CPA, CFF?, ABV?

[scarletknight91]

How many letters do you need, i need to lease your brain for exam day hah, thanks. what source are you using for review?

also to all becker people out there, why on B3-13 are we taking depreciation at the entire cost of 150,000 without considering the salvage value?

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[How many letters do you need]

Haha scarlet – I'm just using Wiley but I went through all of this stuff for the CMA last year so BEC is more of a review than anything. Still not taking it lightly though have three weeks until exam day and now that my FAR score is in I can finally focus. I say we do a non – monetary exchange….I'll lend you my brain for BEC if I can use yours for REG in Q3!

Oh and I'm not a Becker person but what is the depreciation method? DDB ignores salvage value

MBA,CMA,CPA, CFF?, ABV?

[scarletknight91]

and i thnk to answer my own question, we arent using the salvage because a) they are illustrating what to do with a terminal year cash flow and b) the directions said “for simplicity … will be be fully depreciated for tax purposes.”

FAR: PASSED
REG: PASSED
AUD: PASSED
BEC: PASSED

DONE

[mjp44]

@scarlett…You're right.. I worded it bad. The way i have it in my notes is the standard quantity allowed is the actual units allowed x standard price per unit. I know its confusing that i included the word ‘actual'. I guess it just means the standard units they would produce under normal circumstances.

The way i have the direct materials usage variance remembered is the Actual quantity USED x Std price per unit vs Standard quantity allowed x standard price per unit. You just work back words and fill in the blanks to get the 25000 units.

Also, on b3-13…The question states that the “for simplicity the machine is fully depreciated for tax purposes…and the new machine will have a $10,000 resale value a the end of the useful life” Therefore, i believe you dont consider the salvage value inflow until the final year of useful life.

FAR- PASSED (11/13)
REG- PASSED (2/14)
BEC- PASSED (5/14)
AUD- PASSED (8/14)

If it's important to you, you will find a way. If it isn't, you will find an excuse.

[icandoit]

@CPAOneDayHopefullay. Congrats on passing BEC! I got my FAR score yesterday. So happy! Though I have three more test to pass. I have about 4 weeks to study for BEC and I have 4 more chapters to go (becker), not sure if 4 weeks are enough…. I took BEC back in 2011 and I recall having hard time in written communications due to the lack of knowledge in FAR and other part of CPA exam. Hopefully, I do better this time in written communication. Some people say it's only 15% of the BEC exam and do not worry too much. How do you prepare for the written communication? Thanks.

FAR: 74, 80 (04/14/14) YES!

BEC: 72, (05/31/14)

REG: 75 (Expired), TBD

AUD: TBD

FAR: 74, 80
BEC: 70, 68, 2/28/15
REG: 75 Expired; 72
AUD: TBD

"And all things, whatsoever you shall ask in prayer, believing, you shall receive". Matthew 21:22

[Anonymous]

@icandoit – Looks like we are very much in the same boat. I as well passed FAR and am now getting ready for BEC (5/29). Also using Becker. I had made an attempt at BEC in 2011 and fell short by a mark. I am sure we can do this! I was reading on of these posts that someone bombed 2 out of the 3 WC's and still passed. I am not saying ignore it but don't sweat it.

[Quinacridone]

I'm nearly to the 24 hour mark. Shoring up my overhead variances and financial ratios. Hoping to have a little more time with IT controls. Then go through all of the writing examples I can find (actually good summaries). Praying I can pull this off (only gave myself 4 weeks of study to do this while working full time and putting in two weeks of training for work).

I don't feel as prepared as I have for other tests so this one could go either way. I'm averaging 86 to 90 percent in the Becker progress tests but I'm slow on my calculations which could hurt me on the test.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Anonymous]

@icandoit Thank you and a huge congratulations on passing FAR. It must feel like a huge weight off your shoulders. You seriously shouldn't worry about the w/c of BEC though. I think now only BEC topics that get asked. That's how it was for my exam. As long as you're a decent writer, you shouldn't worry at all!!

[Anonymous]

Found out that I passed BEC last night… Scraped by with a 77, but I'll take it. This passing score reinforced my thought that a ridiculous amount of MCQ's are the most important precursor to a passing score. Best of luck to all those yet to take this in Q2.

[159357]

2 questions for all those who took BEC –

1. Was the time sufficient? I am taking at least 3 to 4 minutes for each calculation-based question from becker material now.

2. Do they give more worksheets at the beginning of the test? Last time I was given 2 worksheets, but it was for Audit. So I really didn't need them. I am assuming I might need a lot of them for this test.

Also, what's the ratio of calcuation vs. theory questions on the exam?

[rvcpa]

i seem to be only get 50's and 60's in the ninja mcq's. anyone have any advice?

[Quinacridone]

159357 – I've only HEARD that it is computationally heavy. One person on here (CPAOneDayHopefully) said his was 55/45 computations to theory. I have no idea how many boards they will give you, but I will find out tomorrow at 12:30. It could also be a site specific thing (maybe one sight will give you more if you request them up front – that is what I am hoping for). I am also very slow – I'm working on trying to do some of them quicker and without any scratch paper. Just so much of a gamble about what types of computations we will be asked to perform.

RVCPA: me too. I find the Ninja MCQs much tougher than Becker. I'm getting about a 75 to 80 on each of my sets of questions – slowly building. I have copied and pasted the questions I get wrong into a word document and then each day I go through my word document (all questions are organized into the sections (i.e. chapter 1, chapter 2, etc). My scores in the Ninja are coming up but I have still not hit any 90s in the Ninja MCQs like I can in the Becker. Keep working them – I think they are good.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Author]

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